Xcel Energy named a World’s Most Admired Company by Fortune Magazine

Fortune Magazine recognized Xcel Energy as one of the World's Most Admired Companies for the fifth consecutive year and ranked it as the second most admired electric and gas company in the country.

The company announced the recognition via news release last week.

"We're honored to be recognized as an industry leader by Fortune magazine," said Ben Fowke, chairmen, president and CEO of Xcel Energy, in a statement on the news release. "This shows that industry peers recognize the value we bring to our customers and is a direct reflection of our employees' dedication to delivering clean, reliable and affordable energy to the communities we serve."

The company recently announced its vision to become the first utility in the country to achieve 100 percent carbon-free electricity by 2050 and to reduce carbon emission levels by 2030, according to the news release.

Fortune Magazine surveyed executives, directors and industry analysists about companies within their industry and based the rankings on nine attributes including: investment value, social responsibility, ability to attract talent and quality of management and products. The survey was a collaboration between Fortune and Korn Ferry, according to the news release.